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Ximalaya, a Tencent-backed podcasting and audio ebook platform, made a profit for the first time in its 10 12 months existence throughout the fourth quarter of 2022, founder and CEO Yu Jianjun stated at the firm’s year-end assembly. Yu pointed to Ximalaya’s improved technique and organizational readability, in addition to its ongoing cost-cutting measures, in serving to the firm to make tens of hundreds of thousands of yuan in profit. The Shanghai-based podcasting startup had filed three prospectuses in the previous two years in the hope of itemizing on the Nasdaq or Hong Kong inventory exchanges, however its makes an attempt failed amid a authorities crackdown on Chinese corporations pursuing IPOs exterior of mainland China. According to Ximalaya’s newest prospectuses filed final March, the agency reached a complete income of RMB 5.86 billion in 2021 whereas its annual internet loss expanded 40.8% year-over-year to RMB 759 million. Paid subscriptions, promoting, and livestreaming make up its main income sources. [Yicai, in Chinese]
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